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Lamar Media to redeem $650 million 5¾% senior notes due 2026
By Taylor Fox
New York, Jan. 4 – Lamar Advertising Co.’s wholly owned subsidiary Lamar Media Corp. plans to fully redeem its $650 million outstanding 5¾% senior notes due 2026 (Cusip: 51307BL4), according to an 8-K filing with the Securities and Exchange Commission.
The notes will be redeemed on Feb. 3 at 102.875 plus interest.
The redemption is conditioned on Lamar Media completing one or more new debt financing transactions totaling at least $550 million, or any lesser amount that Lamar Media determines is sufficient to help fund the redemption of the notes.
The Bank of New York Mellon Trust Co., NA is the trustee.
Lamar is a Baton Rouge, La.-based outdoor advertising company.
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